Paper receipts have long served as the sole record of sales transactions, particularly consumer sales transactions, and the sole bearer paper for proof of purchase and claim of rights. primarily ownership rights, associated with the purchase. A receipt may contain such information as identification of items purchased, quantity of items purchased, date and time of purchase, location of purchase, total transaction amount including taxes, discounts and other adjustments and payment method, and other information in coded or other form which assists the seller in identifying each transaction uniquely. A receipt may also contain a message from the retailer, warranty or return details, special offers, advertisements or coupons. Typically, for in-store purchases/sales, a receipt is generated from the retail point of sale system on paper register tape and presented to the buyer at the completion of the transaction. For online purchases, a receipt may be electronically generated at the end of the transaction or immediately e-mailed to the buyer so the buyer can print the receipt information from his/her home computer, or a paper receipt and/or packing slip may be contained in the package when the merchandise is delivered to the buyer. In most cases, a paper receipt or copy thereof is generated. Even when an electronic receipt is generated, the buyer must print a copy of the receipt in order to obtain any rights associated with the transaction, such as a return or warranty claim, or insurance claims for loss or destruction of an item of personal property.
A receipt is also a legal document which serves as evidence of a transaction between a seller and a buyer, and proof of ownership as a result of purchase. Possession of a receipt entitles the bearer to certain rights. Retailers may require consumers, as part of the terms and conditions of a sale, to present an original receipt document as proof of purchase of an item in order for the consumer to return or exchange the item. Similarly, a manufacturer of a product may require presentation of an original receipt document as a pre-condition to any claim made for warranty replacement or repair of an item. The submission of an original receipt may also be required by, among others, employers for reimbursement of business-related purchases; personal property insurers for claims of lost, damaged or stolen property, insurance providers for reimbursement of certain health-related expenses; the federal government for income tax records, and U.S. courts of law for legal related matters as a business document under the Federal Rules of Evidence.
Given the legal and transactional importance of possession and safe-keeping of sales receipts, significant attention and effort must be devoted to maintaining possession, control, organization and protection of receipts in physical form, i.e. paper receipts. The time period between when a purchase is made and when a receipt is required can be several years for returns and warranty claims, and for the entire period of ownership for personal property loss claims. Even if a consumer manages to retain the receipt, over time the receipt may become illegible or otherwise damaged to the point where it becomes void and is no longer functional as a legal document. Some receipt printing technology such as thermal printing does not produce print which remains legible over an extended period of time. Loss of a receipt results in loss of the consumer's rights, and can reflect negatively on the seller or retailer that refuses to honor returns or warranty claims solely due to the absence of a receipt.
Paper receipt generation for every retail transaction is also an enormous burden for retailers and on the environment. In addition to the equipment and labor required to continuously generate millions of paper receipts, the physical paper requirements for receipts just in the U.S. is estimated to be in the hundreds of thousands of tons, sourced from the annual destruction of thousands of trees.
Systems for generating and storing receipt data electronically, i.e., electronic receipts, are known. They involve interfacing with retailer point-of-purchase (POP) systems to acquire receipt information and store it either on-site or off-site or by a third-party provider. For example, published U.S. patent application US2009/0271322 A1 discloses a system and method for auto-generating an electronic receipt from a point-of-sale (POS) with a credit card terminal and/or electronic cash register, and which de-activates normal receipt printing functionality, captures electronic receipt information and transmits it to a membership or subscriber based Internet website where consumers may view and manage their receipt information. The system also includes a membership or provider based Internet website for merchants to view and manage information related to previous customers, from which merchants may distribute coupons or advertisements to participating consumers.
Published U.S. patent application US2009/0313132A1 discloses a receipt store as a cloud computing service wherein electronic receipt data is associated with customer information and sent to the cloud by the retailer. The customer information can be provided via a device such as a cell phone or other device containing an electronic record which is read at the point of sale. The receipt data can then be accessed by the customer by the device or other computing means.
Published U.S. patent application US2009/0216664A1 discloses the use of a portable device for electronic payment with a base device of a retailer, and receiving and storing an electronic receipt.
U.S. Pat. No. 7,552,087 discloses an electronic transaction receipt system and method wherein electronic receipts are issued to buyers via the Internet, and may include hyperlinks to related information such as product return procedures, product warranty information, rebates or recall procedures.
Published U.S. patent application US2008/0313066 A1 discloses a method and system for managing receipts wherein electronic copies of receipts are generated and stored in a database under unique identification codes for each purchaser/user for later access if needed. The application includes disclosure of the seller generating electronic receipt data which is assigned a unique code and stored in a database, but does not address seller or retailer acceptance of electronic receipt records for purposes of merchandise return, refund, exchange or warranty claims.
Published U.S. patent application US2008/002473A1 discloses a method of retaining and accessing receipts in which digitized receipt data is transferred from the retailer point-of-sale to a receipt service provider (RSP) which is accessible by consumers via a website by use of a PIN code.
Published U.S. patent application US2007/0205274A1 discloses a method and program for generating an electronic receipt of a sales transaction at appoint of purchase and transmitting the record in an electron form for retrieval by the buyer. The receipt record may be transmitted to a portable memory storage device in possession of the buyer at the point of purchase, or to a remote service provider or to an Internet address accessible by the buyer.
Published U.S. patent application US2007/0164106A1 discloses an online receipt management system in which a centralized online electronic receipt database is accessible to users via the Internet using a password or e-mail address to access an individual account.
Published U.S. patent application US2007/0094088A1 discloses a system and method of providing electronic receipts directly to a customer wherein biometric data and product specific identification information is collected with each purchase and included with an electronic receipt generated for each purchase.
Published U.S. patent application US2007/0050258A1 discloses a receipt card system that allows consumers to view stored transaction line-item detail using a web browser interface, and to download the information into personal financial management system.
Published U.S. patent application US2007/0045405A1 discloses a system and method for issuing digital receipts for purchase transactions wherein electronic receipt data is transmitted, for example by e-mail, to the owner of a credit card which is used for the purchase.
Published U.S. patent application US2007/0005510A1 discloses a system and method wherein receipt data in electronic form is made available to consumers at the point-of-sale such as for example by use of USB device in connection with an electronic cash register.
U.S. Pat. No. 7,069,240 discloses a system for image capture of receipt data for expense reports, which analyzes images of receipts, converts images to text, extracts expense data and creates an expense report with the receipt data.
Published U.S. patent application US2005/0060437A1 discloses an electronic receipt management system which stores electronic receipt data from multiple disparate retailers and associates receipt data with a unique identifier by vendor or transaction in a storage device, which may be a portable or personal digital storage device such as a personal digital assistant, cell phone or handheld computer.
Published U.S. patent application US2004/0220964A1 discloses a method and apparatus for management of electronic receipts on portable devices wherein the consumer uses the portable device to conduct the transaction with a base device such as an electronic cash register.
U.S. Pat. No. 6,543,683 discloses a system and method for providing a consumer means to access a digital receipt generated from a purchase transaction and stored in a storage device, and to access various application, features or functions related to a stored digital receipt.
Published U.S. patent application US2002/-188559A1 discloses a digital receipt personal identification system in which digital receipts are uniquely coded so that a buyer can later access an electronic version of sales receipt through a computing device by presenting the transaction identifier.
U.S. Pat. No. 6,487,540 discloses a system and method for electronic receipt transmission and management which include itemized purchase transaction information and use wireless vendor devices and wireless purchase devices to transmit and receive electronic receipts at the point-of-sale, and wherein the wireless purchaser device also performs short range and long range communications for purchase authorization to complete a purchase from a vendor.
U.S. Pat. No. 6,341,353 discloses a smart receipt electronic receipt system that provides intelligent receipts that electronically document a transaction and maintain a persistent connection between the seller and the buyer, including hyperlinks in the smart receipt which enable the buyer to access customer service and order status.
U.S. Pat. No. 5,739,512 discloses a system that stores or transmits receipt information digitally, over the Internet or to an e-mail address, and discloses embedding an e-mail address into a bank card such as a credit card.
U.S. Pat. No. 7,324,952 discloses an insurance and transaction monitoring method and system which uses a transaction monitoring program which records details of and communications concerning an insurance contract for increased security and information accuracy.
U.S. Pat. No. 7,246,068 discloses a computerized system for combining insurance company and credit card transactions wherein consumer use of a credit card generates rebates or rewards which may be used to offset the cost of an insurance policy or to make payments to a medical services account.
Although these patents and patent applications disclose various systems and methods for creating and accessing electronic receipts, they do not address or remedy or cover consumer losses resulting from the loss of receipts, whether in paper or electronic form.
Published U.S. patent application US2009/0157437A1 discloses systems and methods for providing insurance and non-insurance products wherein insurance coverage for loss or breakage of a purchased product is included in the sale of a service contract for the product.
Published U.S. patent application US2009/0182584A1 discloses methods for selling insurance using a rapid decision term, by which an insurer sells a life insurance policy with a defined first term and at a first premium which may be relatively high and limited underwriting, and which may be reduced if the insured provides additional information such as medical information and such information indicates a reduced premium is appropriate.
Published U.S. patent application US2010/0114612A1 discloses systems and methods for providing supplemental insurance for leased vehicles wherein a supplemental insurance coverage decision is made by an insurer based upon information received via computer from a leasing dealer or agent. The system is also configured to process claims for the supplemental insurance coverage.
Although these patents and patent applications disclose various systems and methods of implementing and transacting different types of insurance policies and business, they do not address insurance coverage for consumers related to losses which could result from the absence or loss of a paper receipt or electronic receipt for the purchase of a product. The prior art does not provide any system or method for coverage of consumer losses or loss of rights with respect the ownership of a product or personal property which could result from the loss of a paper or electronic receipt.